Kuala Lumpur:Malaysia aims to ensure that six out of ten Employees Provident Fund (EPF) members are on track to achieve the 'Basic Savings' benchmark of RM390,000 by the age of 60 by 2030. This goal is set under the Retirement Income Adequacy (RIA) Framework.
According to BERNAMA News Agency, Prime Minister Datuk Seri Anwar Ibrahim noted that currently, nearly four in ten members are on track to meet this benchmark. He highlighted the risk many Malaysians face of outliving their savings during a retirement period that could last 20 to 25 years. Anwar's remarks were delivered by Finance Minister II Datuk Seri Amir Hamzah Azizan during the EPF's International Social Wellbeing Conference (ISWC) 2026.
The Prime Minister addressed the challenge of coverage, emphasizing that many Malaysians are employed outside conventional formal employment structures, while the country's social protection system is largely based on these structures. He stressed the need for the country€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬¦¾¢s systems to evolve with changing work dynamics.
Anwar pointed out a disparity in planning horizons, as policymakers consider long-term retirement plans while households often focus on immediate financial needs. He emphasized that retirement security should begin with income, decent work, and consistent saving, aligning retirement and wage agendas.
The government has allocated RM1.26 billion for senior citizens' welfare, benefiting 180,000 older Malaysians, and is expanding activity centers to prevent isolation in aging. Anwar advocated for a graduated care system based on need, not just financial capacity.
EPF chairman Tan Sri Mohd Zuki Ali emphasized the importance of a collective effort involving government, businesses, communities, families, and individuals to create conditions for well-being at all ages. He noted the introduction of i-Legasi, which allows eligible members to transfer retirement savings to family members, enhancing intergenerational retirement security.
The Retirement Income Adequacy framework provides clear benchmarks for savings, offering members a clear understanding of how current savings translate to future income. The ISWC 2026, themed 'The Long Horizon,' is jointly organized by the EPF and the Finance Ministry, with the two-day forum concluding tomorrow.